Maybe the U.S. Housing Market has Bottomed-Out?

This could be the great news everyone is waiting for regarding our incredibly bad real estate market. The early indications are no where near definite or even mildly conclusive and is at best circumstantial. However, it is the first good news on the nationwide housing market we gave seen in ages.

First, the media is reporting over the past few days some good signs of a recovery in housing, sales and construction stats. The media is also full of stories about lots of foreign investors buying homes in the U.S. Just this morning ABC’s Good Morning America reported the National Association of Realtors reports existing home sales for February 2009 were the best since July 2003.

GMA also reported “housing vultures” (including many foreign investors) were buying homes in high numbers (sometimes 100 homes at a time in bulk) and the investors were going on real estate tours of the U.S. Investors from places such as Australia, Canada, Mexico, Brazil, China and of course U.S. Investors too.

Next I would like to report on personal experiences in my area in Arizona. First, we have noticed far more Realtors with buyers touring the neighborhood recently. On another personal level we have seen a noticeable uptick in traffic going to a real estate website we run FreeMLSlisting.com.

In fact, a check of yesterdays traffic data reveals more visitors on Mar 23 2009 vs any other day on the chart, which covers a few months of web site visitor activity. Looking at more statistics supplied by Google we noticed an important statistic had its best day yesterday since Nov 3 2008.

Please keep in mind the upbeat information is by no means conclusive or proven to be statistically valid but nevertheless it certainly is quite encouraging to the nationwide war on foreclosures and the real estate market to say the least.